Someone wants me to manage their property & I have questions

[Laura Krukowski]

I am a real estate agent in Upstate, NY but have had a request from someone to manage their newly purchased property. It is pretty close to me so I said sure lets talk about it. But I have never managed an Air BNB for someone. I never really thought about it till now. So my questions are:

1) Do I need a contract or something for just one listing?

2) How does a PM get paid exactly? Monthly? Weekly? Via a check? Venmo? Do you send an invoice?

3) If I charge 20% fee say, do you collect on the total amount of nights for the booking? so say a weekend is $400 (I get $80)-- if you give a weekly rate at a discount then whatever the week is eg: $1260 (I get $250), etc?

4) How do the cleaners get paid? Do I pay them? Does the owner pay them? How do you handle that?

5) I am planning on telling them that they need to directly pay someone for their snow plowing & mowing, but I am happy to give them contacts to call. Is this typical?

6) When setting up the listing on Air BNB--is it just in my name or do I put the owners name on the listing? I am guessing the PM is the "co-host"? 

I am so sorry if this seems completely ridiculous to ask but I am better versed at being a broker than a property manager for someone else. If I can get this to work out who knows, maybe it can grow, but ANY advice / help you can give me would be much appreciated!!!

[Jim K.]

Just a redirect here...the OP is in the Catskill Mountains in upstate New York, a prime weekend vacationing area for couples and families out of the New York City area. This is her first post. She took the time to set up a profile. It would behoove you to at least look at it before commenting.

The OP is a realtor and looking to expand into STR, which is HUGE business in the Catskills. This is not some newbie wet behind the ears who has never managed property.

@Laura Krukowski

Good luck, Laura. Wish I knew something that could help you.